CoreCivic (NYSE:CXW) Price Target Raised to $19.00

CoreCivic (NYSE:CXW) had its target price hoisted by Northland Securities from $17.00 to $19.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

A number of other research analysts have also recently commented on the stock. StockNews.com cut shares of CoreCivic from a buy rating to a hold rating in a research report on Thursday, February 22nd. Wedbush reaffirmed an outperform rating and issued a $18.00 price target on shares of CoreCivic in a report on Thursday, March 21st.

CoreCivic Price Performance

CXW opened at $15.61 on Tuesday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.73. CoreCivic has a 52-week low of $7.84 and a 52-week high of $16.24. The company has a 50 day moving average of $14.75 and a two-hundred day moving average of $13.55. The company has a market cap of $1.76 billion, a P/E ratio of 26.46 and a beta of 0.81.

CoreCivic (NYSE:CXW) last released its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.17). CoreCivic had a return on equity of 4.70% and a net margin of 3.56%. The business had revenue of $491.25 million for the quarter, compared to analysts’ expectations of $489.62 million. On average, analysts expect that CoreCivic will post 1.3 earnings per share for the current year.

Insider Transactions at CoreCivic

In other CoreCivic news, CEO Damon T. Hininger sold 50,525 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $14.62, for a total value of $738,675.50. Following the completion of the sale, the chief executive officer now directly owns 820,262 shares of the company’s stock, valued at approximately $11,992,230.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other CoreCivic news, EVP Anthony L. Grande sold 15,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $14.50, for a total transaction of $217,500.00. Following the completion of the sale, the executive vice president now directly owns 186,692 shares of the company’s stock, valued at $2,707,034. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Damon T. Hininger sold 50,525 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $14.62, for a total transaction of $738,675.50. Following the sale, the chief executive officer now directly owns 820,262 shares of the company’s stock, valued at $11,992,230.44. The disclosure for this sale can be found here. Insiders own 1.89% of the company’s stock.

Institutional Trading of CoreCivic

Hedge funds have recently bought and sold shares of the company. Boston Partners lifted its stake in CoreCivic by 13.7% during the third quarter. Boston Partners now owns 2,910,746 shares of the real estate investment trust’s stock valued at $33,343,000 after buying an additional 351,508 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of CoreCivic in the third quarter worth approximately $792,000. Wellington Management Group LLP lifted its position in shares of CoreCivic by 45.1% in the third quarter. Wellington Management Group LLP now owns 374,701 shares of the real estate investment trust’s stock worth $4,215,000 after purchasing an additional 116,542 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of CoreCivic in the third quarter worth approximately $1,052,000. Finally, FMR LLC increased its holdings in CoreCivic by 0.6% in the third quarter. FMR LLC now owns 8,597,388 shares of the real estate investment trust’s stock worth $96,721,000 after buying an additional 53,395 shares during the last quarter. 85.13% of the stock is owned by hedge funds and other institutional investors.

About CoreCivic

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.